cbsi Announces SnapCoverage for Bank Customers

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SnapCoverage provides transaction account providers, credit card issuers and their cardholders with a streamlined means to register products, store product information and process claims on such card benefits as Auto Rental Insurance, Warranty Manager, Trip Delay and other products.

SnapCoverage makes it easier to file a claim whether in front of computer, tablet or smartphone.

Card Benefit Provider cbsi Announces Release of SnapCoverage for Bank Customers

NY-based cbsi, a Financial Services industry veteran and provider of transaction account benefits, recently announced a new service for both cardholders and financial institutions known as SnapCoverage.

SnapCoverage provides transaction account providers, credit card issuers and their cardholders with a streamlined means to register products, store product information and process claims on such card benefits as Auto Rental Insurance, Warranty Manager, Trip Delay and other products.

“Given the relationships with our bank clients, the continued growth of mobile usage for consumers and our ongoing commitment to a digital strategy, we believe SnapCoverage to be a natural addition to the products and services we already provide,” said cbsi President and Founder, Bob Conte.

Credit card benefits have been in existence for more than 40 years and are often provided to cardholders at no cost. These benefit products and services help to offset losses that occur in retail or travel environments when a cardholder purchases services with a benefit-based credit card.

For example, one of the most popular benefit products is Auto Rental Insurance (known as Auto Rental Collision Damage Waiver – ARCDW). Simply, when a cardholder rents a car and purchases that rental with a credit card that contains ARCDW, the credit card company will pay for many of the various types of damages that may arise from the rental.

Previously, filing claims for such services followed a more traditional route: call center interaction. While cardholders can still call to file a claim, the creation of SnapCoverage allows consumer to process claims electronically – even from a mobile device.

“Credit card holders today expect to utilize the convenience of their mobile device for everything from ordering food to filing insurance claims,” added Mr. Conte. “SnapCoverage makes it easier to file a claim whether in front of computer, tablet or smartphone.”

To learn more about SnapCoverage visit http://www.cbsiservices.com.

Today cbsi continues to support more than 1,200 financial institutions, insurance companies, payment processors, manufacturers, service providers and membership associations. cbsi has more than 400 million transaction accounts covered by one or more of its benefits.

From initially providing benefits to now offering full-service solutions in marketing, customer relationship management and analytics, cbsi gives its clients rich, innovative strategies that make relationships work.

Many know cbsi as the company that helped create the loyalty benefits industry. While it's nice to be considered the innovator, cbsi believes its ability to "get things done" is the engine behind its longevity.

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